Hey kids, it's vitriolic rant time! (Yay!)
Are you in college, planning to go to college, or planning to send kids to college someday?
Don't ever, EVER take out a student loan from Sallie Mae. Be wary of any loan company that might sell your existing loans to them, as well.
They're evil. I will be well-rid of these conniving, thieving, dishonest, money-grubbing, manipulative, opportunist robber barons, the day I finally get my last loan paid off.
I don't "hate" very often, but I hate Sallie Mae.
I've come to personify the company as some crotchety, cantankerous, nonagenarian old broad, sitting on a rocking chair (next to her sister Fannie) on the porch of an old house packed to the rafters with cash stolen from bankrupt college students, taking pot-shots at passersby with a shotgun, screaming, "Git away from mah MONEY!" BLAM!!
She's been freeloading off of me since the day I graduated, so I've been trying to pay off my loan as fast as I can, so I can finally kick her out of my house. This has been to the exclusion of doing other things - like going to CGExpo or California Extreme this summer. Or buying a new computer.
This year, I've managed to pay down the loan quite a bit. I was expecting when I got to the end of this year's payment book (they send out a booklet each year with payment slips for each month), that they'd send me another, and I'd keep making my monthly payments as usual, and just end up paying the loan off early. Right? Make sense?
No.
They didn't send me a new payment book.
I called them.
They said they'd mailed me a new one, and it should be arriving soon.
It didn't.
I called them again.
They weren't going to send me a new payment book.
I didn't need to make another payment until 2013, because I'd "paid ahead".
Ummm... no. That wasn't the point here. The point was to take payments off the end. Not to pay ahead, you idiots.
Can I get a new payment book now?
No.
I didn't need to pay again until 2013. Therefore, the new payment book would arrive then.
Then I asked them the question they didn't want to answer... "But isn't my loan still accruing interest during that time?"
"Ummm... I'll have to check on that. (Long pause) Yes, your loan is still accruing interest daily. But you don't need to make a payment again until 2013."
Riiiiight.
So now it becomes clear. They were going to suck another THREE YEARS of my money away as interest, without communicating this to me in any way, shape or form.
Evil, greedy, stupid, lousy, useless (insert long string of expletives of your choice here), money-grubbing crooks!
So in the end, I find out I can pay on the loan now anyway, but I have to go to their website to find out how.
And pay on it I will. As fast as I can financially afford to. I want to deprive them of as much interest as I possibly can.
Then I'm going to kick that old broad out of my house.
And I'm going to enjoy it.
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